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Larsen & Toubro (L&T) has established a new wholly-owned subsidiary, Panipat Green Hydrogen Pvt Ltd, to pursue green hydrogen projects and allied activities. The move follows its earlier land acquisition in Kandla, Gujarat, for green hydrogen and ammonia development. In a parallel update, Fitch Ratings affirmed L&T's long-term foreign and local currency issuer default ratings at 'BBB+' with a stable outlook. The government's growing emphasis on green hydrogen through initiatives like the National Green Hydrogen Mission underpins L&T's strategic expansion into this space.
Engineering and infrastructure major Larsen & Toubro (L&T) has announced the formation of a new wholly-owned subsidiary named Panipat Green Hydrogen Pvt Ltd. The newly incorporated entity will focus on the development of green hydrogen projects and associated business activities, as disclosed in a regulatory filing made by the company. Advertisement
In a separate stock exchange disclosure, the company also informed that Fitch Ratings had reaffirmed its long-term foreign and local currency issuer default ratings (IDRs) at 'BBB+', maintaining a stable outlook. This affirmation highlights L&T's consistent credit profile amid its diversification across engineering, manufacturing, and energy transition portfolios.
L&T had previously disclosed its acquisition of a land parcel in Kandla, Gujarat, intended for the establishment of green hydrogen and green ammonia projects, signalling its commitment to clean energy solutions. The company's recent move to launch a dedicated arm for hydrogen development aligns with the broader national agenda.
India's central government has been steadily pushing for the adoption of green hydrogen as part of its sustainable energy strategy, supported by the National Green Hydrogen Mission and trial projects targeting transport-sector applications.
Source - PTI
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